It has now been 300 days since President Joe Biden said that high inflation would be “temporary” as the cost of consumer goods including gas has continued to climb. On July 19, 2021 Biden addressed inflation in remarks delivered at the White House and argued that the significant price rises that had taken place amid […]
Category: Business
Musk says Twitter deal is on hold
Elon Musk said he is putting his bid to acquire Twitter (TWTR) on hold, weeks after agreeing to take the company private in a $44 billion deal. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk tweeted on Friday.The news initially sent Twitter […]
Gas prices jump to record highs; Will they go higher?
In another blow to the US economy, prices at the pump soared to fresh record highs. The national average price for regular gasoline climbed more than four cents on Tuesday to $4.37 a gallon, according to AAA. That takes out the prior record of $4.33 set on March 11. The gas spike — prices are […]
Stocks post worst month in nearly 14 years as recession fears grow stronger
US stocks plunged on Friday, with the Nasdaq marking its worst month since October 2008 and the S&P notching its worst month since March 2020 at the onset of the Covid pandemic. The tech-heavy Nasdaq fell 4.2% on Friday, dragged down by Amazon (AMZN), which dropped nearly 15% after it missed earnings expectations. The S&P […]
As recession fears mount, the Fed’s favorite inflation measure just hit a fresh 40-year high
Americans had to reach deeper into their pockets in March, as yet another key inflation index showed prices hit a fresh 40-year high. The Personal Consumption Expenditures price index increased by 6.6% for the year ended in March, the Commerce Department reported Friday. It was the highest rate since the period ended January 1982, outpacing […]
Student Loan Forgiveness Coming ‘Soon’ says President Biden
President Joe Biden has indicated that he may take action to cancel up to $10,000 of student debt per borrower “soon” in a meeting with Democratic Representative Tony Cardenas. Canceling some student debt could provide Democrats with a boost in the upcoming midterm elections where the party is facing potential defeat. Republicans have come out […]
US economy shrank 1.4% in 1st quarter of 2022; worst performance in 2 years
The U.S. economy cooled markedly in the first three months of the year, as snarled supply chains, record-high inflation and labor shortages weighed on growth and slowed the pandemic recovery. Gross domestic product, the broadest measure of goods and services produced across the economy, shrank by 1.4% on an annualized basis in the three-month period […]
Elon Musk could make radical changes to Twitter
Twitter is usually awash with topics for discussion, but over the past couple of days one has stood out on the platform above others – what does the future hold for Twitter itself? With Elon Musk set to purchase the site – subject to shareholders’ approval – for $44bn (£35bn), tweeters across the world have […]
Musk’s $44 billion deal accepted by Twitter
Twitter shares popped over 5% on Monday after the company’s board unanimously accepted Tesla CEO Elon Musk’s $44 billion offer to take the social media giant private. Under the terms of the agreement, Twitter stockholders will receive $54.20 in cash for each share of common stock that they own upon closing of the proposed transaction. […]
Elon Musk nearing deal to buy Twitter
Twitter is said to be nearing a deal to sell itself to Elon Musk, according to The New York Times and other outlets, 11 days after the Tesla and SpaceX CEO shocked the industry by offering to buy the company in a deal valuing it at more than $41 billion. A deal could be finalized […]
Agriculture industry could be crushed by Biden’s new environmetal regs
The Biden administration is reportedly considering clamping down on a widely-used herbicide that farmers and industry groups have argued is key for maintaining low prices. The Environmental Protection Agency (EPA) is considering tighter restrictions on the use of atrazine, a key herbicide often applied to corn, soybeans and sorghum, according to a March letter from […]
Rents are rising everywhere. Can we afford them much longer?
Rents continue to rise at the fastest pace in decades, making housing costlier than ever for many Americans. Nationally, rents rose a record 11.3 percent last year, according to real estate research firm CoStar Group. That fast pace of growth remained elevated in the first months of 2022, as many parts of the country continued […]